Precision Drilling's quarterly loss narrows

Reuters Staff

1 Min Read

July 31 (Reuters) - Canadian rig contractor Precision Drilling Corp on Monday reported a smaller quarterly loss compared to a year earlier, helped by higher oil prices and strong demand from the United States and the Middle East.

The company’s net loss narrowed to C$36.1 million ($29 million), or 12 Canadian cents per share in the second quarter ended June 30, from C$57.7 million, or 20 Canadian cents per share, a year earlier.